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Jupiter looks at adding onshore absolute return fund

Jupiter Asset Management is considering bolstering its absolute return range by launching an onshore version of the £120.5m strategic total return Sicav.

It launched in October 2010 and is run by fund managers Miles Geldard and Lee Manzi. The portfolio aims to generate an absolute return by investing on a global basis across a range of asset classes.

A spokeswoman says: “Geldard and Manzi have an excellent reputation and long-term track record in Europe for managing multi-asset strategies and we are considering making their talents available to an onshore audience.”

The firm currently has one onshore absolute return fund, the £709m absolute return fund, run by Philip Gibbs.

Investment Quorum chief executive Lee Robertson says he expects more absolute return fund launches this year. He says: “There is an appetite for absolute return funds despite how badly a lot of the managers in that sector have done. The better managers are attracting quite a bit of money and I expect a Jupiter fund to do well. Geldard and Manzi are bright guys.”

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